Help, Help, Help, in a blind panic

[jet_black]

Re: Help, Help, Help, in a blind panic

Hubby is far more confident than me, but Law isn't his strong point. Given the right info, I suppose he could go.

[Amethyst]

Re: Help, Help, Help, in a blind panic

They wont expect you to argue anything legal just put across your case (hello I'm skint and i'm trying to meet my obligations etc) - it will most likely be rubberstamped tho so I wouldnt worry about it yet

[jet_black]

Re: Help, Help, Help, in a blind panic

I just hope the judge won't be too mad at us for burying our heads in the sand for so long.

[Hopeful1]

Re: Help, Help, Help, in a blind panic

I bet there aren't many people in debt that haven't spent time with their head in the sand - i know i did.

Good luck with your case jet_black.

[tomterm8]

Re: Help, Help, Help, in a blind panic

I don't understand why they say the loan was not regulated under the consumer credit act 1974. Most secured loans of this value ARE regulated agreements. was the secured loan for the initial purchase of the land? Or was it more than 25,000?

[Amethyst]

Re: Help, Help, Help, in a blind panic

I believe it was over £25k to begin with.

[jet_black]

Re: Help, Help, Help, in a blind panic



It was for a £12k loan
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I don't understand why they say the loan was not regulated under the consumer credit act 1974. Most secured loans of this value ARE regulated agreements. was the secured loan for the initial purchase of the land? Or was it more than 25,000?

It was meant to be for consolidating our smaller debts and doing some decorating.

[Curlyben]

Re: Help, Help, Help, in a blind panic

Well that clearly states REGULATED, so what are they talking about in the POC's.

I also notice the inclusion of single premium PPI on this loan, how were you advised about this insurance, if at all ?

Also getting my really picky head on these are a few things that strike me:

- No account number referenced on POC
- Charges applied ??
- Figures don't seem right. Total loan of £20k yet claiming £18k. Bearing in mind that a years worth of payments is £3,360 !
- Possible mis-sold PPI
- Has there ever been a change of APR ?

[Amethyst]

Well thats confuddled me then.

Def need to get the part 18 in IMO.

well if its a 12k loan like shown on p'work that'll make the figures add up even less.

okay I see interest and 4k PPI. lol. I'lll look when I get back from school. flipping eck.

[jet_black]

Re: Help, Help, Help, in a blind panic

Here's the T&C's, just hunting out the info on the PPI....

[tomterm8]

Re: Help, Help, Help, in a blind panic

can we have a copy of the payment protection plan terms and conditions too? Thanks

[Dougal16T]

Re: Help, Help, Help, in a blind panic

Good morning,

I seem to recall somewhere in the back of my tiny brain, that the addition of insurance PRIOR to the calculation of interest has been declared unlawful by the court of Appeal.

I remember now It was :LONDON NORTH SECURITIES LTD. V MR.& MRS. MEADOWS & ANOTHER

(COURT OF APPEAL [2005] EWCA Civ 956)

I have a full transcript of this case, which clearly states that 'It follows that we dismiss the appeal (by London North..)because, if the insurance premium was part of the total charge for credit, as we hold, then the amount of credit under the agreement was incorrectly stated. It should have been stated as £5,000, not £5,750. It is agreed that this is a breach of the Act which cannot be overcome.'

It seems this might apply here.....you need better advice than I can give on this....I am sure someone will clarify my thinking for you.

[COLOR="rgb(0, 100, 0)"]As always keep up the good fight.
Best wishes
Dougal[/COLOR]

[jet_black]

Re: Help, Help, Help, in a blind panic

just finished scanning it up....




I have masses of information on this as I got a SAR last year.

[Amethyst]

Re: Help, Help, Help, in a blind panic

How much had you paid off on this loan before you stopped paying? how many monthly payments since July 2005.

[WendyB]

Re: Help, Help, Help, in a blind panic

Seems a bit dogy to me, the POC is crap, no info at all. I think they do that deliberately, to scare people into just paying up. Yeah, like anyone's got a spare 17k hanging about..

Anyway

Total amount of loan 19952.64
Amount claimed 17780.39
Difference 2172.25

How many payments had you made before you stopped paying? 12 months payments is 3325.44 so if you made at least that then it throws the figures above out by at least £1000. Although if they've been adding on charges for letters and bounced d/ds etc that could soon rack up.

Need to get an exact amount of what you've paid. I know you should get a statement with the SAR stuff but this might take a while so in the meantime if you could work it out from any records you have that would be good. We should then be able to work out a truer figure for the amount owed.